The 52-year old combined a record of 64-166 in three seasons as the head coach in Cleveland.

He signed on with the Cavs in the summer of 2010.

Scott has one season left on his contract. The Cavs picked up his option for 2014 in October.

Cavs General Manager Chris Grant issued a statement in a press release:

"I have tremendous respect for Byron professionally and a great deal of admiration for him personally. At the same time, it is critical for where we are as a team to ensure that we capitalize on every opportunity for development and success and we have fallen short of that on the court," said Grant. "I believe we needed to make this change in order to get to a better position to achieve our goals. I know I speak on behalf of the entire Cavs organization and the Cleveland community, in thanking Byron for his three years here and his hard work and many contributions on and off the court. We wish Bryon and his wife, Anita, the best."

Grant will address the media today at 2:30 p.m. at Cleveland Clinic Courts in Independence.

Cavs owner Dan Gilbert also issued the following statement: "I wish Byron Scott and his entire family the best going forward. Byron is a class guy, both on and off the court, and I thank him for his three years of coaching the Cavaliers."

Scott reached the NBA Finals twice as the head coach of the Nets. He was named the NBA Coach of the Year in 2008 with New Orleans.